This is a class blog run by Dr. Carolina Acosta-Alzuru and her students in the course "Telenovelas, Culture & Society" at the University of Georgia during Fall 2015

Thursday, December 3, 2015

Telenovelas & Digital Content

Television
production is growing as new technologies allow for increased consumption
sources. According to IbisWorld, 33.2% of the television industry is made up
for drama programming and, as evidenced through reproductions like “Jane the Virgin,”
the telenovela industry is at a critical growing point it its life cycle where
it has the unique opportunity to grab a hold of the U.S. viewers who enjoy
drama programs. Technology change is high and more frequently the millennial
audience, ages 18-34, uses online streaming to watch their shows after the show
has aired on TV.Telenovela producers
should take initiative and begin targeting the Hispanic millennial population
in the U.S. in order to increase growth and revenue. Doing so will add a
competitive edge to any production company.

There are many benefits to producing
digital content. One of the biggest benefits is that digital content creates
measurable metrics, such as impressions and click-thru rates. If a company were
to analyze the demographic data and metrics available through online content,
it would have a better understanding of its current audience and from there
expand its reach. Another benefit is advertising dollars. According to
IbisWorld, 75.0% of U.S. senior executives of advertising companies are
increasing their digitaladvertising
budget. Big online streaming sources, such as Hulu, Netflix, and Amazon Prime
are the next generation of revenue for television production and advertisers.
Telemundo has already begun experimenting with online content and is a
well-established member of its online community. Telenovela production
companies can capitalize on digital content and online streaming by partnering
with online streaming sources. The rising online viewership rate and online and
mobile development are signals of increased revenue opportunities; we know from
class the telenovelas are an industry and its producers are revenue-oriented.
Furthermore, it is less expensive for the consumer to view online content at a
monthly rate, than to purchase a television set at a particular moment in time.
As Wifi becomes more accessible across developing nations, the trend of
online-viewership will become more evident and companies already established in
the digital streaming area will be seen as innovators with a strong competitive
advantage over their contenders.

Telenovelas are already a global
product and the barrier to entry in the U.S. could be solved with the creation
of more online content and streaming services. According to IbisWorld, 56.9% of
TV viewers use the Internet while watching TV. Any industry that capitalizes on
this fact will benefit with consumers and revenue. U.S. television production
companies are already taking telenovela tactics and reworking them for their
own benefit, and audiences are not aware. Telenovelas are at a critical point
in their development where companies could easily invest in online content and
benefit in the long-run.